LOS ANGELES-The Modesti family of Los Angeles, which has operated an auto repair business at 12205 W. Jefferson Blvd., has sold the 12,500-sf corner lot for $1.3 million and is now operating a new facility on the opposite corner, according to Lexington Real Estate Group of Marina del Rey.

William Bird of Lexington tells GlobeSt.com that Peretz Properties of Los Angeles bought the lot at 12205 W. Jefferson Blvd. from the Modesti family, which is already operating a new, 7,000-sf auto repair shop on the opposite corner at 12121 W. Jefferson. Bird, who represented the Modestis in the purchase of the new lot and sale of the 12205 lot to Peretz, says the 12205 lot drew multiple offers.

The Jefferson Boulevard properties are three blocks west of the San Diego Freeway and across the street from the Studio Campus portion of the 1,000-acre Playa Vista development. Bird says Peretz will demolish an existing structure on the 12205 lot and plans to build a new project, but the size and type of the development have yet to be determined. Peretz was represented by Bill Doumar of ReMax Los Angeles.